With Bitcoin price reclaiming the $63k mark, the cryptocurrency market has recorded a strong bullish recovery over the past day. Moreover, the Sui coin price has regained traction and is on the verge of reclaiming the $2 mark.
Will Sui crypto price beat all odds and record a new ATH this Uptober? Or will the altcoin experience a bearish reversal and plunge toward its lower support levels? Scroll down to uncover the short-term mysteries of the Sui (SUI) crypto token.
Sui Token Breaks Its Important Resistance Level:
The Sui price has jumped ~12% in the past day with a trading volume of $942.14 million. Moreover, it has added 122.84% during the past month and has a YTD return of 148.59%.
Moreover, the altcoin is currently trading at a discount of ~10% from an all-time high (ATH) of $2.18. Successively, with a circulating supply of 2,763,841,373 SUI tokens and a market cap of $5.34 billion, it has secured the 19th position in the global crypto list.
The Relative Strength Index (RSI) continues hovering above the overbought range in the 1D time frame. Further, its average trendline shows a potential bullish convergence, suggesting a positive outlook for the altcoin in the coming time.
The EMA 50/200-day shows a significant rise in the SUI price chart. This highlights that the altcoin will continue gaining value during the upcoming week.
Will SUI Price Hit New ATH This Uptober?
Maintaining the price above the support level of $1.90 could result in it retesting its all-time high of $2.1850 in the coming time. Furthermore, if the bullish sentiment intensifies, this could result in it heading toward its upper high of $2.50 this month.
On the contrary, a bearish reversal could pull the price toward its support level of $1.90. Moreover, if the bearish sentiment intensifies, this could result in the Sui coin price plunging toward its lower support level of $1.6060.
Considering stacking some SUI tokens for good gains? Read our Sui Price Prediction for potential price targets!
